MELVIN BELLI WAS RIGHT ABOUT NEGOTIATING.  He was known as the "King of Torts".  During my days while providing service as a lawyer for clients, I once attended a seminar where he spoke.  The subject was the art of NEGOTIATIONS. 

BELLI was a character, a giant of the courtroom, jovial, very entertaining and fun to listen to.  I remember him saying something like ... "a great negotiator must start by learning everything he/she can about the situation and issues".

He talked about negotiating ... like journalism and that you should  ask questions.  What happened?  When did it happen?  Who did it?  Where is it?  Why did they do it?  What was the result?  Why do we care?

I was reminded of this when reading again the article published by Realtor magazine on Improving Negotiating Skills in Real Estate and 12 Ways to Become a Better Negotiator. 

THE FIRST STEP TO TAKE IN GOOD REAL ESTATE NEGOTIATION IS TO ASK QUESTIONS AND LEARN ABOUT THE SITUATION   (IT'S THE PROPERTY).

BELLI'S advice would also be true for REAL ESTATE DEAL NEGOTIATING ... whether you represent the owner/seller or the buyers. 

Ask questions?  What's the property like?  When was it subdivided?  When was the home built?  Who was the architect?  Who was the builder?  Did the builder get involved in other local projects?

How big is the lot?  How large are other lots in the tract?  How many homes are in the neighborhood and tract? 

How many other homes there sold during the past year?  What are the comp sale prices for the past six months?  What others in the neighborhood are now for sale?  Have other listings been canceled or expired?

How is this particular home and property different than others nearby?  Have improvements been made?  Who did the improvements?  Are those permitted?

Were there foreclosures during past year within a half mile of this property?  Have those been resolved and absorbed back into the market?

What is the primary attraction for this neighborhood?  How close are the schools?  What is the primary attraction for this particular home and property?

What do people care about around here?  Will someone be interested in this property?  What's the demographic in the neighborhood? 

Is this property walking distance to commerce or culture and social activity centers?  What have people said about this community and neighborhood?  Is there history of police activity in the area?  What's the place like at night?  Are there recreational centers nearby?

Is this home governed by a homeowners association?  What is some history of this particular HOA?  Is it well managed?  What are the monthly or annual dues?  Have those increased during the past year? 

BECOME AN EXPERT ON THE PROPERTY.  There are many other things to question and find out about the home and property. 

MELVIN BELLI was right .... even though he wasn't talking about real estate.

ASKING QUESTIONS, FACT GATHERING AND LEARNING ABOUT THE PROPERTY ... THE FIRST AND PERHAPS THE MOST IMPORTANT PART OF REAL ESTATE DEAL NEGOTIATING. 

Posted by Harrison K. Long, Explore Properties Group, Irvine, CA.    Source:  Realtor.

Jason Crouch, Realtor and blogger at Austin, Texas, wrote this fun article about WHY YOU NEED TO HAVE A WORKING UNDERSTANDING OF THE OLFACTORY SENSE AS A HOME SELLER.  We enjoyed this and are sharing it with you.  You can visit with Jason at www.austintexashomes.com.  

US HOUSE OF REPRESENTATIVES on September 24, 2009, PASSED a RESOLUTION THAT PARTIAL FUNDS WILL BE PROVIDED FOR PROGRAMS FOR FISCAL YEAR 2009.

GOOD NEWS:   THE RESOLUTION DID NOT RENEW THE OFFSHORE OIL DRILLING BAN.

Coastal states will continue to control areas up to three miles off their coasts.  Areas beyond three miles will now be subject to FEDERAL LEASING. 

I agree with Congressman Ken Calvert that "the new drilling policy should be put in place and allow for offshore energy exploration in a manner that protects the environment, is beyond the visible horizon, and gives coastal states more input in the process and a greater share of the royalties.  The ability for the U.S. to develop its own resources, while moving away from oil as a primary source of energy, will reduce our dependence on foreign oil." [Ken Calvert, US Congress Representative from California]. 

It's good that some of our US Congress representatives from California are pushing for energy strategy that includes wind, solar, nuclear, and conservation, and development of our own natural gas and oil reserves, on land and offshore.

It is good that our US House of Representatives on Sep. 24 passed a continuing resolution (CR) to provide partial funds for Fiscal Year 2009 for those federal programs for which a free standing appropriations bill had not been passed.  Fiscal Year 2009 begins on Oct. 1, 2008, and the CR provides funds from then through March 6, 2009.

Congress is scheduled to adjourn by the end of the week, October 1, 2008.  Passage of a CR was necessary to keep government agencies running.  The U.S. Senate is expected to pass the CR as soon as it is sent over from the U.S. House.  [Source: www.Roads&Bridges.com]

THIS WILL BE GOOD FOR THOSE OF US WHO DRIVE MOTOR VEHICLES AND WITH BUSINESS AND REAL ESTATE.

Posted by Harrison K. Long, Explore Properties Group, Coldwell Banker Previews, Irvine, CA

The HOME DEPOT announced plans on September 25, 2008, for the opening of its 23rd the OC store in Huntington Beach, which is scheduled for October 30, 2008.

We see this as a significant sign that Home Depot and the retail industry are enthusiastic about the future of development and building supplies in Orange County.

The new Home Depot store at Magnolia in Huntington Beach will be about 126,000 square feet, including a garden center.   This new store will employ 180 workers and will be the second Home Depot in Huntington Beach. 

The Home Depot spokesperson said:    "We continue to open new stores where it makes sense for our business and the community," spokesman said. "We still intend to open 55 new stores this year.  The 50 mentioned in our release are mostly in 2009 and 2010. We have a more disciplined approach to capital allocation and new store growth. As we increase our focus on existing stores and maintain our continued investment in improving those stores, we will be able to create better shareholder returns."

We see this as a sign of building supplies industry confidence and good things to come for business and real estate here in Orange County, California.

In May, 2008, The Home Depot home improvement chain said it will close 15 underperforming stores and cancel plans to open about 50 stores in the U.S.  However, none of those closings will be in Orange County.

The Home Depot, Inc. is the largest home center retailer in the USA and operates 478 warehouse stores and sells items to both the growing do-it-yourself home improvement market and construction professionals.  The company's stores are located in 19 states, on the West Coast, and the southwestern, northeastern, and southeastern regions of the United States. California and Florida are the states containing the most Home Depot outlets [source: Wikipedia].

Posted by Harrison K. Long, Explore Properties Group, Coldwell Banker Previews, Irvine, CA.

Source: The Orange County Register, 9-26-2008.

Our U.S. government spends considerable money at its U.S. Census Bureau and provide us with information. 

I QUESTION WHETHER THIS USE OF TAXPAYER FUNDS FOR INFORMATION IS ALWAYS HELPFUL OR IMPORTANT.

The Associated Press    reported on September 22, 2008, about the U.S. Census Bureau survey highlights.

The Census Bureau released the 2007 American Community Survey, the government's annual estimates of social, economic and housing characteristics for the nation. 

HIGHLIGHTS OF CENSUS BUREAU 2007 AMERICAN COMMUNITY SURVEY:

Median home values increased 5 percent from 2006 to 2007, which was lower than in recent years.

DIDN'T WE ALREADY KNOW THIS? 

Hawaii had the highest median home value, at $555,400.  West Virginia and Mississippi tied for the lowest, at $96,000.  The national estimate was $194,300.

The average commute to work time increased from 25.0 minutes in 2006 to 25.3 minutes in 2007.  Commuters in New York state had the longest average time journey to work at 31.5 minutes.  North Dakota workers had the shortest commute at 16.1 minutes. 

Immigrants made up 27.4 percent of the population in California, the largest of any state. West Virginia has the lowest immigrant percentage at 1.3 percent.  The U.S. national average was 12.6 percent. 

Nearly 43 percent of Californians spoke a language other than English at home, the highest rate in the nation.  West Virginia had the lowest rate, at 2.3 percent.  The national share for this was 19.7 percent.

Wyoming had the highest share of high school graduates, at 91.2 percent of the population age 25 and older.  Mississippi had the lowest at 78.5 percent.  The national share was 84.5 percent.

DOES IT MATTER TO US WHAT STATE HAS THE MOST HIGH SCHOOL GRADUATES? 

The District of Columbia had the highest share of those with a bachelor's degree from college, at 47.5 percent.  West Virginia had the lowest at 17.3 percent. The national share was 27.5 percent.

WILL THIS INFORMATION BE USED BY SOME STATES FOR BRAGGING?  AND BY OTHERS TO ASK FOR MORE GOVERNMENT AID?

The District of Columbia also had the highest share of those with advanced college degrees at 26 percent.  North Dakota and Mississippi tied for the lowest at 6.4 percent. The national share was 10.1 percent.

Alaska had the highest share of military veterans, at 15.4 percent of the population.  New York had the lowest in this category with 7 percent. 

South Carolina had the highest share of housing that was mobile homes at 18.2 percent.  The District of Columbia had none.

I QUESTION WHETHER USE OF MONEY BY THE U.S. CENSUS BUREAU FOR THIS INFORMATION IS HELPFUL TO US.     OR IMPORTANT?

Posted by Harrison K. Long, Explore Properties Group, Coldwell Banker Previews, Irvine, CA

Source: The Orange County Register, September 23, 2008

SOME TRIAL LAWYERS HAVE BEEN GEARING UP TO ATTACK A SOFT SPOT IN THE BUSINESS WORLD ... THE SUBPRIME MORTGAGE CRISIS ... MORTGAGE BANKERS, LENDERS AND MORTGAGE BROKERS.

Bloomberg News reported that the number of new mortgage crisis lawsuits is growing.  More than 600 lawsuits related to the subprime mortgage situation were filed in U.S. federal courts since January 2007, including 310 in the first six months of 2008.  That's a lot more than litigation related to the U.S. savings and loan collapse of the 1990s.

The current crisis in mortgage has swelled the LITIGATION INDUSTRY with expected benefits for TRIAL LAWYERS.

Subprime-related lawsuits now outnumber the 559 filed during the savings and loan industry collapse in 1995.  

WHAT HAPPENED IN 1995?  Lawsuits filed during that time were brought by the Resolution Trust Corp, which was created by the US federal government to liquidate assets of failed banks in an effort to repay creditors.   The US government then sold or closed 747 U.S. thrift institutions, costing taxpayers about $140 billion.  The RTC recovered almost $400 billion from sale of assets.  The agency's remaining assets and liabilities were transferred to the Federal Deposit Insurance Corporation.  

WHAT IS HAPPENDING NOW?  Financial industry write downs in the USA and mortgage losses have reached $260 billion during 2007 and 2008.  Citigroup Inc. has already sustained a loss of $55.1 billion.  Bank of America has lost $21.2 billion.  IndyMac has lost $4.9 billion.  

DO WE NEED MORE LAWSUITS?  Will this generate money for shareholders of failed banks and for victims of the mess?  

Mortgage bankers have been the most frequent target by Plaintiffs and their trial lawyers.

Countrywide Financial, the home lender that is now part of Bank of America, has been sued by shareholders and attorneys general from California, Connecticut, Illinois and Florida.

Is our California Attorney General Jerry Brown right about pursuing this litigation against Countrywide? 

Is this mortgage LITIGATION INDUSTRY EXPANSION A GOOD THING?  Is that necessary for protection of investors?  Or for protection of those who got the loans?  And for protection of those who are unable to make their loan payments?  Is this litigation good for business and our economy?

Some trial lawyers apparently thought that they didn't get enough of the LITIGATION INDUSTRY BUSINESS during savings and loan collapse in 1995 and have been educating themselves and the INDUSTRY on their approach this time.

I know and have friends who are trial lawyers.  Many of them do great work, defending the rights of the weak and poor.  Some help true victims of disaster and homelessness.  Some help people with sickness and handicaps.  Some help people get their immigration status worked out.  Some do this work pro bono and do not generate fees for themselves.  I appreciate and thank these lawyers. 

SOME OTHERS ARE TRIAL LAWYERS IN THE MORTGAGE CRISIS LITIGATION INDUSTRY WHO HAVE THEIR SERVICES TO SELL. 

ARE YOU BUYING?  Do we need more TRIAL LAWYERS and lawsuits in the LITIGATION INDUSTRY to help solve these problems?   

Posted by Harrison K. Long, Explore Properties Group, Irvine, CA

Source:  Bloomberg News;  The Orange County Register, 9-15-08

Christi and I are long-time and loyal LOS ANGELES ANGELS OF ANAHEIM (we know them as our Anaheim Angels) baseball fans ... and get to as many games at THE BIG A as possible.

 We watched by television tonight as Francisco Rodriguez saved his 58th game of the year and became the new king of saves in a single season.

He did this today at Angel Stadium (WE KNOW THIS AS THE BIG A), when he came in for the 9th inning and preserved the team's 5-2 victory over the Seattle Mariners for save No. 58

... SETTING A NEW MAJOR LEAGUE BASEBALL RECORD FOR MOST SAVES IN ONE SEASON.

THIS WAS QUITE A CELEBRATION.

Some fans (including me) have been skeptical about whether we trust him to get the job done for the team.  And some of us aren't happy that he has threatened to leave the team for an organization that will pay him even more gobs of cash. 

But Frank's a tough guy with focus ... and got the job done for the team this year. He added a wicked changeup to go with his curveball and fastball and stumped a lot of batters. 

Rodriguez arrived at the MLB level in September 2002, when he joined the Angels for their charge to the playoffs and WORLD SERIES VICTORY.  He struck out lots of batters during that time and has been a success since then.

Congratulations to Franki Rodriguez and to the Angels players, and to Los Angeles Angels of Anaheim team and management.

We will always be ANGELS BASEBALL FANS ... and hope the team will continue to be focused through the playoffs 2008 ... and make it at least to the 2nd round. 

Posted by Harrison K. Long, Explore Properties Group, Irvine, CA

SOUTH ORANGE COUNTY, CALIFORNIA ... A BEAUTIFUL PLACE   

SOUTH OC  ... GREAT PLACE TO LIVE

Search South OC Homes & Properties, Newport Beach, Irvine, Newport ... Explore South OC for Opportunities in Living and Investment, Newport Beach, Irvine, Newport Coast, Laguna Beach homes, Laguna Niguel and Corona del Mar.  explore real estate/ - 54k - Cached - Similar pages - Note this
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CORONA DEL MAR ...

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THE OC ...

Explore The OC  (BLOG AT ACTIVE RAIN).  Explore The OC on the ActiveRain Real Estate Network. ... again tonight ... like we can every night from our home here in Irvine and South OC, California. ...  activerain.com/blogs/hklong - 80k - Cached - Similar pages -

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LAGUNA BEACH ...

Explore & Discover OC Real Estate Opportunities, Laguna Beach ... Explore OC Homes & Real Estate Opportunities for Living and Investment. South OC, Orange county, CA. Find and buy the home of your dreams in the OC ... www.explorerealestate.net/personalinfo.html - 47k - Cached - Similar pages - Note this

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Search South OC Homes & Properties, Newport Beach, Irvine, Newport ... Explore South OC for Opportunities in Living and Investment, Newport Beach, Irvine, Newport Coast, Laguna Beach homes, Laguna Niguel and Corona del Mar.  www.explorerealestate.net/ - 54k - Cached - Similar pages - Note this 

VISIT WITH US HERE AT SOUTH OC ... EXPLORE THE OC ... SOUTHERN CALIFORNIA.

Harrison K. Long, Explore Properties Group, Irvine, CA

We see this more here in beautiful South OC and Southern California ... and are not surprised.

The 2008 NAR® Profile of International Home Buying documents international home buying activity in the U.S. for the 12-month period running May 2007 to May 2008. 

It's true that we live in a global marketplace where home buyers are not all local.  Foreign buyers with primary residence outside the U.S. make up a significant share of home purchases.  It's estimated that between 150,000 and 190,000 homes in the USA were sold to foreign nationals for the time from May 2007 to May 2008.

California ranked second behind Florida with the most share of home purchases by foreign buyers in the U.S.

That's not a surprise to us.  HERE IN SOUTHERN CALIFORNIA HAVE MILES OF BEAUTIFUL COASTLINE, BLUE WATER, MOSTLY RELIABLE SUNNY WEATHER, SIGNIFICANT IMMIGRANT HISTORY AND ATTRACTIONS FOR INTERNATIONAL TRAVELERS.

According to this survey ...

Foreign investors from China and Asia as a whole favored property in California more than any other state.

The typical international buyer purchased a single-family vacation home costing $297,400, which was occupied 2.6 months during the year. 

Forty percent of international home buyers purchased their U.S. property with cash ...  as compared to seven percent for all domestic buyers.

International home buyers tended to purchase more expensive properties that cost an average of 36 percent more than typical domestic buyer's purchase.

International home buyers purchased condominiums or townhomes more than domestic buyers.

Foreign exchange rates have helped make U.S. real estate properties more affordable for international buyers.                                            

DOES THIS SURPRISE YOU?    NOT ME.  WE HAVE SEEN THIS ONE ARRIVING.

Home prices here in California have dropped ... making homes here more affordable ... which increased the popularity with buyers.  Good inventory of homes for sale, low interest rates, softer U.S. dollar, combine to make U.S. real estate as a good investment opportunity for careful buyers.

The 2008 NAR® Profile of International Home Buying says that it was based on responses from approximately 4,000 realtors who serve foreign buyers, and documents international home buying activity in the U.S. for the 12-month period running May 2007 to May 2008.

Posted by Harrison K. Long, Explore Properties Group, Irvine, CA

There are some very good Realtors and real estate agents out there ... who always seem to be involved with helping their friends and clients.

When hiring a Realtor agent to help you buy your next home ...  or help you sell your home and property ... you should find one to trust ... and one who listens to what you have to say. 

The Realtor should be able to go the extra mile to help make your purchase or sale appear to be smooth.  This agent should help you set aside the emotion of the situation and be objective.

The Realtor agent should have knowledge about and help you understand and work with local market conditions. 

The agent should know about home values and tell you what other homes have sold for in the neighborhood ... and what other homes are listed for.  He or she should be an MLS member and have information on local for sale listings.

This Realtor agent should be qualified and do his or her homework to be prepared .... and represent you carefully through the offer and counters and contract of sale experience.

The agent should be a primary source of information about the schools, shopping areas, access to the homes and neighborhood, recreation, churches, parks, and libraries.  

This Realtor should be able to point out flaws and positive features of the community.

The Realtor agent should be able to listen to your wants, needs, dreams and desires ... and then ask questions to help you figure out what's driving that expectation.

The Realtor agent should be able to draw out the client and help him or her focus on the truly important issues.

The REALTOR AGENT SHOULD TELL THE TRUTH.  This agent be willing and able to focus on reality ... tell you what you may not want to hear about the property or neighborhood.

The agent should be a primary source of information ... about real estate, home inspectors, mortgage lenders and real estate attorneys, title insurance contracts, service agents, contractors and handypersons. 

Your Realtor agent should subscribe to the National Association of Realtors NAR Code of Ethics and be knowledgable about what's expected of real estate agents in terms of transactions and supporting the interests of their clients.

The Realtor agent should be a student of the real estate business, local markets, new developments, including mortgage, real estate law, estate planning, and income and property taxation.

A good Realtor agent stays in touch.  Many use technology to help them communicate with their clients.  (such as E-mail, BlackBerrys, iPhones, cell phones, electronic newsletters, Web sites, digital photography and video).

What happens at the end of the transaction?  Great handshake?  Perhaps a hug.  The main thing is that the client's best interest was moved forward and that the sale or purchase was in his or her best interest.

What then?  Continued contact ... perhaps some social time ... fun ... and networking ... and sharing of other experiences with your Realtor and agent.  Developing a friendship. 

Posted by Harrison K. Long, Explore Properties Group, Irvine, CA